There was this guy that came into the IRC channel last night and started saying how he can manipulate the price of the coin. We all didn’t believe him until it started happening. He claims to have over $10 Million USD to invest from his investors into DOGE. I have been watching it and I feel like it may pop or shoot up. TO be safe I have invested about 50/50 DOGE and BTC. But here is the chat from last night. Hes definitely playing games. Sit tight fellow shibes. Lets ride this out and see what happens.
[-wolong-]: More common in china lol
poordoge: psychological warfare
[-wolong-]: ok putting it simple
[-wolong-]: let’s say price is at 80 now
[-wolong-]: 50 BTC sell walled up
[-wolong-]: what i do is simple
[-wolong-]: that 50 BTC is mine
[-wolong-]: i clear that shit up
[-wolong-]: 50 btc, that will trigger massive buy ins
dubaiss: > so easy
[-wolong-]: and then people will buy at 81 BTC 82 83
Tuxedage: Incredibly so.
Tuxedage: One would think you would put a 50 BTC buy wall instead.
[-wolong-]: i will have some small orders up there
TheDoctor: hopefully thas all they got
ReservoirDoges: [-wolong-] so you remove the 50 btc sell wall? or you buy your own wall?
[-wolong-]: that is where my orders get bought
Tuxedage: But you’re actually doing the opposite
TheDoctor: b/c they could feed the wall
[-wolong-]: and then I will place high bids at 81 again
[-wolong-]: or 80
[-wolong-]: and act as a new form of support
[-wolong-]: This is how i substain prices
[-wolong-]: and move prices
[-wolong-]: and also benefit from a few spread
coj_satoshibe: Tuxedage: he probably as a buy wall as well
[-wolong-]: ReservoirDoges: i have to buy the wall
Tuxedage: [-wolong-], were you ever trained in TA or market pricing?
[-wolong-]: to create the delusional effect
[-wolong-]: sopmeone is BUYING HUGE on 50
Tuxedage: Or is this all based on your own research?
[-wolong-]: but the real fact is
[-wolong-]: im just selling to myself
[-wolong-]: Tuxedage: as mentioned earlier, I am a forex and stocks trader
[-wolong-]: 7 years of experience
coj_satoshibe: all that volume you see on cryptmarketcap is just wolong selling to himself lol
== paston [[email protected]] has joined : heDoctor
: -wolong-]: and picking everything up in between
ReservoirDoges: Tuxedage, just learning from the experienced haha
poordoge: how much fees has you given to cryptsy doing that lol
[-wolong-]: by doing this, i don’t add up unneccessarily extra amount of doges to my reserve
Deadhand: makes sense wolong
Deadhand: now there’s like 20 BTC on 83
[-wolong-]: or neither do i have to incur buying at higher prices everytime i move price
Deadhand: er, 84
Deadhand: 10 on 83
[-wolong-]: i just need to pay 0.2% fees
coj_satoshibe: 0.2% buying, 0.3% selling
[-wolong-]: what’s safer? pay 0.2% fees or hog up tonnes of doges, gaining more exposure
== fake2 has quit : Stallman
: nd I’m still waiting for Cryptsy to release my funds.. as I’m sure everyone else is
TheDoctor: the fees get balanced out with the rise in price
k33k: brb buying cryptsy fee shares lol
[-wolong-]: taking up orders on 81 82 83 might cost me 20 BTC, draining 20 BTC of shit
[-wolong-]: but clearing 50 BTC? left hand to right hand?
[-wolong-]: 0.5% of 50 BTC
[-wolong-]: cost me 0.25 btc
TheDoctor: not too bad
[-wolong-]: that’s the maths
the_mad_crapper: [-wolong-]: thats more money that i have in cryptsy
== sloperd [[email protected]] has joined : he_mad_crapper
fyrstikken: [-wolong-]: I hope I am your cryptsy-referance : cf6aef7e16a812be73366dac7e3a777233a4a7c5
[-wolong-]: so now everyone understand how shit works right?
ReservoirDoges: hmmm… so it wouldn’t work just removing the sell wall and placing a buy wall at that price right afterwards? e.g. removing a 50 btc sell wall at 80, then placing a 50 btc buy wall straight after?
TheDoctor: what happens if someone pops up in the middle and sucks it all up on the way to the other hand?
[-wolong-]: fyrstikken: i have accounts link to one another reference for rebates
poordoge: i didnt know wolong until yesterday
[-wolong-]: TheDoctor, that is known as the battle of the bankers
Tuxedage: ReservoirDoges, I have a lot of theoretical knowledge about market pricing/forex/trading
[-wolong-]: if he takes up my 50
TheDoctor: right right
[-wolong-]: either i cap prices
Tuxedage: but very little practical experience
[-wolong-]: and he buys all i have
Tuxedage: I find this all very fascinating.
[-wolong-]: i don’t move price forcing him to sell out